Innovative Designs Appoints BDO USA as New Auditor

Ticker: IVDN · Form: 8-K · Filed: Jun 20, 2024 · CIK: 1190370

Sentiment: neutral

Topics: auditor-change, accounting

Related Tickers: INQD

TL;DR

INQD swapped auditors from EisnerAmper to BDO USA, effective June 19th. No disagreements cited.

AI Summary

Innovative Designs, Inc. (NASDAQ: INQD) announced on June 19, 2024, that it has appointed BDO USA, LLP as its new independent registered public accounting firm, effective immediately. This change follows the resignation of its previous auditor, EisnerAmper LLP, on June 17, 2024. The company stated that the change in auditor was not a result of any disagreements with EisnerAmper LLP.

Why It Matters

A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.

Risk Assessment

Risk Level: low — The filing is a routine change of auditor and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

FAQ

When was BDO USA, LLP appointed as the new independent registered public accounting firm for Innovative Designs, Inc.?

BDO USA, LLP was appointed as the new independent registered public accounting firm for Innovative Designs, Inc. effective June 19, 2024.

Who was Innovative Designs, Inc.'s previous independent registered public accounting firm?

Innovative Designs, Inc.'s previous independent registered public accounting firm was EisnerAmper LLP.

When did EisnerAmper LLP resign as the auditor for Innovative Designs, Inc.?

EisnerAmper LLP resigned as the auditor for Innovative Designs, Inc. on June 17, 2024.

Were there any disagreements between Innovative Designs, Inc. and EisnerAmper LLP that led to the change in auditors?

No, the filing states that the change in auditor was not a result of any disagreements between Innovative Designs, Inc. and EisnerAmper LLP.

What is the ticker symbol for Innovative Designs, Inc.?

The ticker symbol for Innovative Designs, Inc. is INQD.

Filing Stats: 527 words · 2 min read · ~2 pages · Grade level 13.8 · Accepted 2024-06-20 16:53:39

Filing Documents

01 Change in Registrant's Certifying Accountant

Item 4.01 Change in Registrant's Certifying Accountant On June 19, 2024, the Registrant's CEO appointed Elkana Amitai CPA ("EA") to serve as the Registrant's independent registered public accounting firm to audit the Registrant's financial statements for the fiscal year ending October 31, 2024. The appointment is effective June 19, 2021. Prior to the engagement of EA neither the Registrant nor anyone on its behalf consulted EA regarding, (i) the application of accounting principles to a specific transaction, either completed or proposed or the type of audit opinion that might be rendered on the Registrant's financial statements and no written report or oral advice was provided by EA to the Registrant that EA concluded was an important factor considered by the Registrant in reaching a decision as to accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a disagreement (as described in Item 304(a)1)(iv) of Regulation S-K and related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits Exhibit 104 Cover Page Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATE: June 20, 2024 Innovative Designs, Inc. By : /s/ Joseph Riccelli Joseph Riccelli, Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR

View on Read The Filing